DATE SET FOR CREDIT UNION AGM
As questions continued to be asked this week in relation to the date for the annual general meeting of Mitchelstown Credit Union, The Avondhu has learned that the AGM has been scheduled for Tuesday, December 16 at 7.30pm in The Firgrove Hotel.
In common with all financial institutions, it is understood that the local credit union has suffered significant losses on its investments. However it is thought the board will recommend the payment of a small dividend and a rebate on loan interest for members at the AGM.
Amidst ongoing reports of tension at board level in the credit union, the local unit of the organisation, which was once rated amongst the top credit unions in Ireland, continues its search for a new manager. Interviews have already taken place and a decision on the preferred candidate is expected shortly.
In the meantime John Reen of the ILCU (Irish League of Credit Unions) continues in the role of acting manager at Mitchelstown Credit Union. The credit union has experienced something of a staff haemorrhage with two managers leaving within the space of a year and a number of senior staff also moving on to take up employment elsewhere.
Earlier this year two senior directors of the credit union were asked to step down by the financial regulator ‘in the best interests of Mitchelstown Credit Union’.
Members of Mitchelstown Credit Union are entitled to submit motions for discussion in advance of the AGM which takes place on Tuesday week next.
Thursday 4th December 5:22pm